Keppel DC REIT is a real estate investment trust that principally invests in income-producing real estate assets used primarily for data center purposes and assets necessary to support the digital economy. As a wholesale data center provider, KDC REIT leases out its properties as either a co-location, fully fitted, or shell-and-core data center. Among these three, co-location leases make up the majority of KDC REIT’s rental income but have the shortest weighted average lease expiry profile of less than three years compared with the fully fitted and shell-and-core data centers that enjoy long WALE profiles of around nine and seven years, respectively, as of June 30, 2026.